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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | 184,3x - 203,7x | 194,0x |
Selected Fwd EBIT Multiple | 85,5x - 94,4x | 90,0x |
Fair Value | ₩1.706 - ₩1.853 | ₩1.780 |
Upside | -31,5% - -25,6% | -28,5% |
Benchmarks | Ticker | Full Ticker |
Avenir Wellness Solutions, Inc. | AVRW | PINC:AVRW |
Komipharm International Co., Ltd. | A041960 | KOSDAQ:A041960 |
Aprogen Biologics Inc. | A003060 | KOSE:A003060 |
Korean Drug Co., Ltd. | A014570 | KOSDAQ:A014570 |
ChoA Pharmaceutical Co., LTD. | A034940 | KOSDAQ:A034940 |
CMG Pharmaceutical Co., Ltd. | A058820 | KOSDAQ:A058820 |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
AVRW | A041960 | A003060 | A014570 | A034940 | A058820 | ||
PINC:AVRW | KOSDAQ:A041960 | KOSE:A003060 | KOSDAQ:A014570 | KOSDAQ:A034940 | KOSDAQ:A058820 | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | NM- | NM- | 3.7% | NM- | -17.1% | |
3Y CAGR | NM- | NM- | NM- | -28.6% | NM- | NM- | |
Latest Twelve Months | 57.0% | 198.7% | 17.1% | -38.9% | -11.8% | -66.4% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | -456.0% | -9.1% | -30.3% | 13.3% | -7.8% | 2.6% | |
Prior Fiscal Year | -171.3% | -14.7% | -80.9% | 8.3% | -14.0% | 3.2% | |
Latest Fiscal Year | -138.3% | 10.5% | -86.9% | 5.6% | -15.7% | 1.0% | |
Latest Twelve Months | -149.5% | 10.5% | -86.9% | 5.6% | -15.7% | 1.0% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 4.63x | 7.36x | 3.55x | 0.46x | 0.74x | 3.05x | |
EV / LTM EBITDA | -3.2x | 46.6x | -6.1x | 5.5x | -6.2x | 69.3x | |
EV / LTM EBIT | -3.1x | 69.9x | -4.1x | 8.2x | -4.7x | 296.5x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -4.7x | -3.1x | 69.9x | ||||
Historical EV / LTM EBIT | 64.9x | 180.7x | 296.5x | ||||
Selected EV / LTM EBIT | 184.3x | 194.0x | 203.7x | ||||
(x) LTM EBIT | 1,020 | 1,020 | 1,020 | ||||
(=) Implied Enterprise Value | 188,065 | 197,963 | 207,861 | ||||
(-) Non-shareholder Claims * | 43,292 | 43,292 | 43,292 | ||||
(=) Equity Value | 231,356 | 241,255 | 251,153 | ||||
(/) Shares Outstanding | 138.9 | 138.9 | 138.9 | ||||
Implied Value Range | 1,665.73 | 1,736.99 | 1,808.26 | ||||
FX Rate: KRW/KRW | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 1,665.73 | 1,736.99 | 1,808.26 | 2,490.00 | |||
Upside / (Downside) | -33.1% | -30.2% | -27.4% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | AVRW | A041960 | A003060 | A014570 | A034940 | A058820 | |
Enterprise Value | 9 | 431,638 | 239,421 | 33,400 | 46,476 | 302,550 | |
(+) Cash & Short Term Investments | 0 | 22,448 | 38,319 | 19,000 | 5,447 | 76,794 | |
(+) Investments & Other | 0 | 1,010 | 91,994 | 331 | 3,068 | 46,463 | |
(-) Debt | (9) | (43,839) | (154,017) | (81) | (24,689) | (79,965) | |
(-) Other Liabilities | 0 | (3,257) | (199) | 0 | 2,815 | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 1 | 407,999 | 215,517 | 52,650 | 33,117 | 345,842 | |
(/) Shares Outstanding | 89.1 | 69.7 | 311.0 | 10.9 | 31.0 | 138.9 | |
Implied Stock Price | 0.01 | 5,850.00 | 693.00 | 4,825.00 | 1,069.00 | 2,490.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 0.01 | 5,850.00 | 693.00 | 4,825.00 | 1,069.00 | 2,490.00 | |
Trading Currency | USD | KRW | KRW | KRW | KRW | KRW | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |